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The huge difference between now and the Great Depression is the knowledge of how the money supply affects economic activity. In the 1930's the guiding principle of business was "sound money". So when the stock market was roaring the Federal Reserve started reducing the supply of money in the economy,actually leading to the crash of '29. Think of how the economy would be with no money at all. The Fed eventually reduced the money supply by 25-30% before it was all over. Guess what? the GNP fell by 25-30% when the economy hit its nadir..

Since then the Fed and other central banks have learned that in a difficult situation the proper approach is to supply additional money to the economy. That's what they did in the Crash of '87, at 9/11,in anticipation of Y2K,and many other times..

The Fed and the European Central bank have been jointly injecting large amounts of money into the economy since last week. They will continue to do so if they think it is necessary.

Rather than worrying you should look at this as an opportunity to buy a home, get into the market,whatever. You may have to pay up for a mortgage but you will get the home at a good price and you can always re-finance later when conditions ease up. Things could get worse before they get better,but nobody knows. So don't over-commit.

As I said,it may get worse before it gets better. In fact,the S&P500 is only down to the level where it was last April. Not much of a correction,nothwithstanding the excitement.

Nobody knows what will happen,if they do they're not telling. I'm just saying to the op that management of the economy is a lot different than it was during the Great Depression.